2007-IDA-104 GSL Partners Sub Four, LP ( 11355 Hwy 225)

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1. A; Board of Arbitrators. shallbe created composed of .one person named by Company, one by City, and a third to be named by 'those two. In .ease of no agreement on this arbitrator in 1.6 days, the parties will join in, a. written request that the Chief Fudge of '.the U.S District .Court for the southern District of Texas, appoint the, third arbitrator who, (as the "Tvpartial Arbitratorw) shall preside over the arbitration proceeding.. The sole issue to be determined in: the, arbitration shall be resolution, of the difference between the parties as to the fair market value. of. Company's property for calculation of the "in lieu payment and total payment hereunder: for the year in question. The Board shall hear and consider all relevant and material evidence on that issue including expert opinion-, and shall render its written decision as promptly as:..practicable. That decision shall then be final' and binding upon the parties,, subject only to judicial review as: may be available under the Texas General Arbitration Act (Chapter 171 "General ArbitrationP Texas C vil Practice and Remedies Code) Costs of the 'arbitration shall be shared equally by the Company ;and the :city, 'provided that each party shall bear its own attorneys fees. W.I . City shall be entitled to a tax lien on Company's above described property, all improvements thereon,: and all tangible personal property thereon, in the event of default in payment of "in lieu of taxes" payments hereunder, which shall accrue penalty and. interest in like manner as delinquent, taxes, and which shall be: collectible by City in :the same manner as provided by lair for delinquent taxes. V11I ,. This Agreement shall inure to :the benefit of anal be binding upon city and Company, and upon Company'a successors and -assigns, affiliates and subsidiari s, and shall remain in. force whether Company sells,, assigns, or is 'any other manner disposes of, either voluntarily or by operation of law,: all or any part of the property belonging to it within the territory' herenabove described, anal the agreements hares contained shall. be held to be covenants running with the land owned by Company situated within said tsrr toryr: for so long as this Agreement or aiy, extension thereof remains: in force. Company shall give City written notice within ninety (90) days, with full particulars as to property assigned and identity of assignee, of any disposition of the Land, and assignment of this Agreement. IX. if City enters into an: Agreement with any other_ landowner with respect to an .industrial district or enters into a renewal of any 8